American Morning
David Gergen: Debt talk fallout 'is a self-inflicted wound'
Early on Monday, Democratic and Republican congressional leaders unveiled separate debt proposals that the other side quickly rejected, demonstrating the deep partisan divide that exists despite months of negotiation.
Both plans provide a path to raise the debt ceiling through the end of 2012, but they differ in scope and over key components involving requirements for future congressional action.
Both President Obama and House Speaker John Boehner addressed the country last night about the impasse in the debt talks.
Today on American Morning, David Gergen spoke with Kiran Chetry about his reaction to the speeches and the likelihood that a deal will be reached, stressing the importance of maintaining the U.S. credit rating.
Gene Sperling: 'We just need a minimum amount of compromise'
Last night, President Obama called for "a balanced approach" to addressing the nation's deficit that includes large spending cuts along with revenue hikes - including a halt to Bush-era tax cuts for families earning more than $250,000 a year.
House Speaker John Boehner showed no sign of moving off his party's opposition to any kind of increase in taxes, signaling that there is still a great divide amongst lawmakers about the correct way to address the nation's debt.
Today on American Morning, President Obama's top economic adviser Gene Sperling spoke with Ali Velshi about the possibility of a compromise in the debt-ceiling negotiations, appearing to remain optimistic despite the continuing impasse in negotiations.
"There is a lot of goodwill that I still believe exists in this country in Washington and we just need a basic, a minimum amount of compromise," Sperling, Director of the National Economic Council, told Velshi. "A minimum amount of not my way or the highway and we can get there easily this week."
Political Panel: Is there time left for a grand compromise in debt talks?
The political showdown on the debt-ceiling negotiations continued last night after months of increasingly tense talks have failed to bring a deal that can win approval from all of the necessary players - the Republican-led House, Democratic-led Senate and the White House.
Obama has pushed for a comprehensive plan that included spending cuts, increased tax revenue and entitlement reforms, while Republicans have sought to shrink government by proposing spending cuts and reforms without increased revenue.
CNN senior political analyst Ron Brownstein and Norman Ornstein, resident scholar at the American Enterprise Institute, joined Ali Velshi and Christine Romans on American Morning today to discuss the various plans being proposed on Capitol Hill and to weigh in on America's growing exasperation with the stalemate.
How Wall Street is affected by the gridlock in the debt-ceiling negotiations
In a televised prime-time speech last night, President Obama warned that with no clear resolution in sight in Congress, the U.S. is moving closer to a default that could deeply damage the economy.
With only seven days left until the country's August 2nd deadline to raise the debt ceiling, many are concerned with how Wall Street will be affected by a default both now and in the long term.
Today on American Morning, Politico's Wall Street reporter Ben White weighs in on how the debt ceiling negotiations are impacting both the U.S. economy and the global markets.
How are the markets reacting to the stalled debt-ceiling negotiations? Jay Powell weighs in
Asian stocks opened lower Monday, the first reaction in major markets after congressional leaders and the Obama administration failed to reach an agreement on a deal to raise the U.S. debt limit over the weekend.
Pressure to reach a deal continues to escalate, with all three major credit rating agencies warning in the past week that they are considering a downgrade of the U.S. credit rating as a result of the continuing impasse.
Today on American Morning, Jay Powell, former Treasury Under Secretary under President George H.W. Bush, joins Christine Romans to discuss how the markets are reacting to the continued stalemate and to weigh in on whether he thinks a bill will be passed before the August 2nd deadline.
Can lawmakers reach a long term deal in the debt-ceiling debate?
With weekend talks to resolve the nation's debt-ceiling crisis hitting a new stalemate on Sunday, President Barack Obama has canceled two fundraising appearances today as anxiety over the impasse continues to escalate.
Failed weekend negotiations and a series of setbacks have left lawmakers on each side of the political spectrum pursuing separate plans and showing little common ground.
Today on American Morning, Margaret Hoover, author of "American Individualism: How a New Generation of Conservatives Can Save the Republican Party," joins Kiki McLean, Democratic strategist, to discuss how the GOP and the Democrats are reacting to the continued impasse in the debt-ceiling negotiations.
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